Bitcoin, very conventionally, employs a decision that the miners adopt the longest chain rule, which states that the greatest proof of work effort invested in a chain must be chosen as the valid chain. This means that an eventual agreement must be reached by all nodes, whereby, nodes decide on the longest chain to be the ONLY valid chain.

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When a block is transmitted onto the Bitcoin network by a miner, it is said that that block has a depth of 1 block. Therefore, with each subsequent block, the number of blocks deep is increased by one. …

About

Jeevan Pillay

An ideological liberalist that is concerned with the collectivistic nature of socioeconomic empowerment through welfare that is derived by the blockchain.

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